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Sigma Additive Solutions sells off its AM Quality Assurance IP to be an Online Travel Company

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Sigma Additive Solutions sells off its AM Quality Assurance IP to be an Online Travel Company
PrintRite3D dashboard/Source: Sigma Additive Solutions

Sigma Additive Solutions, a leading provider of in-process quality assurance (IPQA™) solutions, has announced that it is selling its AM quality assurance IP to an unnamed strategic buyer while also acquiring a 100% stake in NextTrip, a US-based online travel company, in exchange for 19.99% of Sigma common stock, plus additional shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to NextTrip’s business performance.

In connection with the transactions, Sigma is expected to change its name to NextTrip, Inc. and to be listed on Nasdaq under a new trading symbol reflecting the NextTrip name. According to Sigma Additive Solutions, both transactions are being completed to ‘maximise shareholder value.’

Sigma Additive Solutions sells off AM Quality Assurance IP

Sigma Additive Solutions and NextTrip have agreed to value Sigma Shares at $0.40 per share, for a total transaction value of approximately 48 million USD. The companies anticipate that this transaction, as well as the sale of its additive quality assurance IP, will close in Q4, subject to the negotiation and execution of definitive acquisition agreements, regulatory and shareholder approvals, and other customary closing conditions.

NextTrip recently completed the acquisition and integration of a scalable travel booking engine that had a 6 million+ legacy customer database prior to the COVID-19 pandemic and generated over $400 million in bookings in 2019. The parties anticipate that the booking engine acquisition will significantly accelerate the company’s business.

In 2023, NextTrip established over 200 direct relationships with blue-chip travel organisations, as well as major industry suppliers for air, hotel, and other travel and travel-related services, to ensure robust products and a global hotel inventory of over 2 million hotels.

“With our focus on increasing shareholder value as we explored a variety of strategic alternatives, we believe a transaction with NextTrip provides a significant opportunity to participate in a leading travel brand with an array of product offerings and concierge services. The transaction would imply a solid valuation for Sigma and good positioning in public markets. As well, we have a clear path to add value from the sale of Sigma’s current assets in the business of process monitoring with our signed letter of intent from a strategic buyer to acquire the assets.”

– Jacob Brunsberg, President and Chief Executive Officer of Sigma Additive Solutions

Brunsberg added, “NextTrip’s recently acquired scalable booking engine and platform offers numerous proprietary booking solutions allowing travellers to customise itineraries to meet their needs. We believe NextTrip’s leadership team is addressing a clear underserved demand for a differentiated and tailor-made approach in the online travel space. Our ambition is to allow NextTrip the ability to amplify its growth plans and expand its reach into new markets for the benefit of Sigma equity holders, while tying the issuance of additional equity to clear business objectives for NextTrip.”

Subject to the negotiation and execution of the definitive acquisition agreement, regulatory and shareholder approvals, and other customary closing conditions, the transactions are expected to close in the fourth quarter of 2023.

Sigma Additive Solutions and NextTrip will continue to operate as separate, independent companies until the NextTrip transaction is completed.


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Manufactur3D is an Indian Online 3D Printing Media Platform that reports on the latest news, insights and analysis from the Indian and the Global 3D Printing Industry.
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